Florida Insurance Commissioner Kevin McCarty's office has issuedtwo separate cease-and-desist orders to companies for sellingunauthorized surety insurance.
|The office has issued an order to Infinity Surety Company,Infinity Surety Agency and its president George D. Black, Sr. forselling unauthorized surety products. The companies areheadquartered in Saginaw, Texas. A separate order has been issuedto Morris C. Sears, doing business as Abba Bonding, also forselling unauthorized insurance products. Abba is headquartered inLillian, Ala.
|Investigators determined none of those cited had been grantedthe required Florida certificates of authority or licenses.Investigators discovered Infinity offered and sold more than $2million worth of bonds to Florida contractors for businesstransactions with cities, counties and municipalities across thestate.
|In a separate investigation, investigators found that ABBA andSears sold millions of dollars of unlicensed surety bonds toconstruction companies in Florida. ABBA has since filed forbankruptcy in Alabama.
|Under Florida Law, Infinity, Black, Sears and ABBA have 21 daysto respond to the office.
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